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G7 to back minimum global corporate tax, vow to keep support for economy – draft

Finance ministers and central bankers from the group of seven rich nations (G7) will vow this week to keep supporting their economies as they emerge from the pandemic and to reach an “ambitious” deal on a minimum global corporate tax in July, a draft communique showed.

The G7 officials, set to meet in London on June 4-5, will also say that once the recovery is well established, they will need to “ensure long-term sustainability of public finances” – code for a gradual withdrawal of public support.

The G7 comprises the United States, Japan, Britain, Germany, France, Italy and Canada.

Source: Reuters (Reporting by Jan Strupczewski; Editing by Andrew Cawthorne)

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